HomeMy WebLinkAbout1.09 Memo - Chain of Title
Memorandum
TO: Sheryl Bower, Garfield County Community Development Director
FROM: Daniel Teodoru, Timberline Law LLC
SUBJECT: Chain of Title and Ownership Interests in the Nutrient Farm Property
DATE: March 27, 2022
Please accept this memorandum as an explanation as to the chain of ownership interest in the
collective parcels referenced top herein as the Nutrient Farm Property. Nutrient Farm is located
between the Town of New Castle and Glenwood Springs, and to the south of Interstate-70 (I-70) and
the Colorado River. It is bisected by County Road 335 (“CR 335”) – a/k/a Colorado River Road. The
Property consists of four parcels containing approximately 1,136 acres, located on a benched area
between the Colorado River and Coal Ridge and the Grand Hogback (Garfield County Assessor
Records Parcel ID numbers are: 2123-353-00-081, 2183-061-00-057, 2123-344-00-007, 2123-344-
00-005, and 2183-053-00-086). Per our surveyor’s research, these five parcels were combined and
re-organized into four parcels for the Property’s formal legal description in the title work and Special
Warranty Deed – reception #949446.
All the subject Properties were acquired in November of 2018 via a series of special warranty deeds
from NGIC Financial to APB Holdings LLC, a Colorado Limited Liability Company and my client’s
initial property holding company. This chain of title is reflected in the Title Commitment materials
submitted as part of the subject Nutrient Farm Planned Unit Development (PUD) and Revocations of
the Coal Ridge and Riverbend Planned Unit Development Applications.
However, for business reasons, the title in the collective Properties’ interests was subsequently
conveyed from APB Holdings LLC to Nutrient Holdings LLC, on January 28, 2 021, again via Special
Warranty Deeds – reception nos. 949446 through 949449. Nutrient Holdings LLC is the Applicant
for the PUD and Revocations Applications, and as a Colorado LLC has the right and authority to hold
and develop real property in the state of Colorado.
Accordingly, the Property owner of the Nutrient Farms Property, Nutrient Holdings LLC, is also the
Applicant and the proponent of the proposals. Nutrient’s sibling, Nutrient Incorporated, will also run
all the business and agricultural operations on the Property. I do hope this letter sheds some light
on the chain of title and ownership interests in the subject Property. If there are any further questions
or concerns, we are happy to promptly respond.